Short Interest in VanEck Pharmaceutical ETF (NASDAQ:PPH) Rises By 18.0%

VanEck Pharmaceutical ETF (NASDAQ:PPH) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,970,000 shares, an increase of 18.0% from the August 15th total of 1,670,000 shares. Based on an average daily volume of 141,200 shares, the short-interest ratio is currently 14.0 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Optimum Investment Advisors acquired a new position in shares of VanEck Pharmaceutical ETF during the second quarter valued at approximately $27,000. Global Retirement Partners LLC boosted its holdings in VanEck Pharmaceutical ETF by 2,343.8% during the first quarter. Global Retirement Partners LLC now owns 391 shares of the company’s stock worth $35,000 after buying an additional 375 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new stake in VanEck Pharmaceutical ETF during the second quarter worth approximately $42,000. CWM LLC bought a new stake in VanEck Pharmaceutical ETF during the second quarter worth approximately $55,000. Finally, International Assets Investment Management LLC bought a new stake in VanEck Pharmaceutical ETF during the second quarter worth approximately $86,000.

VanEck Pharmaceutical ETF Stock Up 0.8 %

NASDAQ PPH traded up $0.78 on Monday, hitting $98.30. The stock had a trading volume of 51,215 shares, compared to its average volume of 139,018. The company’s 50-day moving average is $95.08 and its two-hundred day moving average is $91.50. The stock has a market cap of $662.54 million, a price-to-earnings ratio of 21.04 and a beta of 0.72. VanEck Pharmaceutical ETF has a one year low of $74.05 and a one year high of $99.51.

VanEck Pharmaceutical ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, July 5th. Investors of record on Monday, July 1st were paid a dividend of $0.3558 per share. The ex-dividend date of this dividend was Monday, July 1st.

VanEck Pharmaceutical ETF Company Profile

The VanEck Pharmaceutical ETF (PPH) is an exchange-traded fund that is based on the MVIS US Listed Pharmaceutical 25 index, a market-cap-weighted index of 25 of the largest global pharmaceutical firms. PPH was launched on Feb 1, 2000 and is managed by VanEck.